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Inside Collection (Textbook):

Textbook by: Barbara Illowsky, Ph.D., Susan Dean. E-mail the authors

# Review

Summary: This module provides a number of homework/review exercises related to Probability.

The first six exercises refer to the following study: In a survey of 100 stocks on NASDAQ, the average percent increase for the past year was 9% for NASDAQ stocks. Answer the following:

## Exercise 1

The “average increase” for all NASDAQ stocks is the:

• A. Population
• B. Statistic
• C. Parameter
• D. Sample
• E. Variable

• C. Parameter

## Exercise 2

All of the NASDAQ stocks are the:

• A. Population
• B. Statistic
• C. Parameter
• D. Sample
• E. Variable

### Solution

• A. Population

## Exercise 3

9% is the:

• A. Population
• B. Statistic
• C. Parameter
• D. Sample
• E. Variable

• B. Statistic

## Exercise 4

The 100 NASDAQ stocks in the survey are the:

• A. Population
• B. Statistic
• C. Parameter
• D. Sample
• E. Variable

• D. Sample

## Exercise 5

The percent increase for one stock in the survey is the:

• A. Population
• B. Statistic
• C. Parameter
• D. Sample
• E. Variable

• E. Variable

## Exercise 6

Would the data collected be qualitative, quantitative – discrete, or quantitative – continuous?

### Solution

quantitative - continuous

The next two questions refer to the following study: Thirty people spent two weeks around Mardi Gras in New Orleans. Their two-week weight gain is below. (Note: a loss is shown by a negative weight gain.)

Table 1
Weight Gain Frequency
-2 3
-1 5
0 2
1 4
4 13
6 2
11 1

## Exercise 7

Calculate the following values:

• a. The average weight gain for the two weeks
• b. The standard deviation
• c. The first, second, and third quartiles

• a. 2.27
• b. 3.04
• c. -1, 4, 4

## Exercise 8

Construct a histogram and a boxplot of the data.

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